year Archives - Keno Wizard https://kenowizard.com/tag/year/ The Ultimate Keno Destination for Odds, Tips & Tricks Fri, 28 Jun 2024 16:34:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 year Archives - Keno Wizard https://kenowizard.com/tag/year/ 32 32 230792155 $63B in Bets in Second Year https://kenowizard.com/2024/06/28/63b-in-bets-in-second-year/ https://kenowizard.com/2024/06/28/63b-in-bets-in-second-year/#respond Fri, 28 Jun 2024 16:34:12 +0000 https://kenowizard.com/2024/06/28/63b-in-bets-in-second-year/ Great news for the online gambling business as the Ontario regulated iGaming market has processed $63 billion in bets in its second year, leaving Canadian platforms like the ones found on Zamsino thriving. To shed more light on this development and what it means in the industry we talked to Erik King, an iGaming specialist and a [...]

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Great news for the online gambling business as the Ontario regulated iGaming market has processed $63 billion in bets in its second year, leaving Canadian platforms like the ones found on Zamsino thriving. To shed more light on this development and what it means in the industry we talked to Erik King, an iGaming specialist and a writer.

Interviewer: Erik, it is great to have you with us today. It is interesting to know that within its second year of operation, Ontario’s iGaming market processed wagers worth $63 billion. What do you think about this accomplishment at the beginning?

Erik King: I am grateful to be here. It is positive news for Ontario’s iGaming industry for sure. This achievement marks that the popularity of regulated web-based gambling is increasing. It reveals the possibility of a significant economic effect and serves as a reference point for other regions that are planning to implement the same legal mechanisms.

Interviewer: The iGaming market in Ontario that is regulated has expanded at a fast pace. In your opinion what are the causes of this tremendous growth you have experienced?

Erik King: Ontario has created a stable and reliable environment in the sphere of regulation which benefits both operators and players. This has boosted confidence in the market.

Interviewer: How has the regulation affected the market?

Erik King: Ontario has the best regulatory approach since the operators are required to follow certain guidelines that make sure that the player is protected, the gambling is not reckless and the gameplay is fair. This has in turn reduced the risks involved in online gambling and has gone a long way in protecting the players. In addition, the framework has brought order and predictability that is crucial in the market development. It has also been able to attract other companies, especially the international ones, which have come with better skills and products that have continued to enhance the competition.

Interviewer: This is a huge amount of money, the $63bn in wagers. This implies what for local economy and the iGaming sector as a whole?

Erik King: This figure generates a lot of revenue for the local economy in terms of taxes and fees. It also implies employment in different fields like tech support, software development, and sales and marketing. For the iGaming industry, it shows that the market is healthy and growing, which could encourage other areas to consider regulation. It is proof that regulated online gambling markets are viable and profitable.

Interviewer: Owing to such growth, what do you think could be the potential problems with Ontario’s iGaming industry?

Erik King: The biggest issue will be the control of growth while at the same time ensuring the aspect of responsible gambling. In the future when the market grows, it will focus on how operators address issues associated with problem gambling. Other issues that will likely persist include managing changes in technology and the threats posed by criminals to the company’s systems.

Interviewer: What do you suppose the other regions will do when they see the positive results in Ontario? Are you expecting other regions to follow the same approach in regulation?

Erik King: It will be expected that the experience of Ontario will be followed by other areas.

Interviewer: What do you think are the major strategies that operators should consider to survive the competition in such a market?

Erik King: Thus, to be successful, operators should concentrate on the following strategies. First and foremost, they should focus on customer satisfaction by providing quality, entertaining, and diverse game selections. Through the integration of technologies such as artificial intelligence and machine learning customer experience in gaming can be improved and enhanced.

Interviewer: Last but not least, what do you think will be the future tendencies in the iGaming industry, especially in the regulated ones like Ontario?

Erik King: I expect the following to be quite promising and interesting. First of all, the use of advanced technologies like the blockchain and virtual reality will change the face of the gaming industry and make the gaming experience even better and more secure. Mobile gaming will continue to expand as a result of improvements in mobile devices and their accessibility.

Interviewer: It was an interesting time here today, Erik, thank you for the input. I hope that you enjoyed our conversation on the subject of the iGaming market development and trends.

Erik King: It was nice of you to have me. It is great to be here during the growth of the iGaming sector and I am eager to find out what the future has in store.

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Ontario iGaming Market Generates $2 Billion, Supports 15,000 Jobs in Year 2 https://kenowizard.com/2024/06/24/ontario-igaming-market-generates-2-billion-supports-15000-jobs-in-year-2/ https://kenowizard.com/2024/06/24/ontario-igaming-market-generates-2-billion-supports-15000-jobs-in-year-2/#respond Mon, 24 Jun 2024 15:10:34 +0000 https://kenowizard.com/2024/06/24/ontario-igaming-market-generates-2-billion-supports-15000-jobs-in-year-2/ Ontario’s regulated iGaming market has made significant economic strides, generating more than CAD$2 billion in revenue for the provincial government since its inception two years ago. According to a recent report by Deloitte, in its second year, Ontario’s competitive iGaming market (excluding the Ontario Lottery and Gaming Corporation’s iGaming offering) has sustained nearly 15,000 full-time [...]

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ONTARIO_IGAMING_MARKET_SUSTAINING_15000_JOBS_IN_SECOND_YEAR_SINCE_LAUNCHOntario’s regulated iGaming market has made significant economic strides, generating more than CAD$2 billion in revenue for the provincial government since its inception two years ago. According to a recent report by Deloitte, in its second year, Ontario’s competitive iGaming market (excluding the Ontario Lottery and Gaming Corporation’s iGaming offering) has sustained nearly 15,000 full-time equivalent jobs, marking an increase of 2,800 jobs from the first year.

A Recognized Leader in iGaming

“Our made-in-Ontario iGaming sector is being recognized internationally for its success as a leader in this space,” said Ontario Attorney General Doug Downey. “Working together with our partners and industry, we will continue to drive innovation and deliver robust player protections, all while displacing the unregulated market. Our iGaming sector is not only a job creator here in Ontario but it shows the world our ongoing commitment to building a sustainable and responsible iGaming industry.”

Deloitte’s report highlights that the total government revenue generated through the iGaming market reached $1.24 billion in the second year. This revenue includes $790 million supporting provincial government revenue, $75 million bolstering municipal government revenues, and $380 million aiding federal government revenue.

“This report puts Ontario’s iGaming market government revenue contribution at over $2 billion since it launched and with job contribution up by 24% from its first year, the benefits to Ontarians are significant,” said Heidi Reinhart, chair of the iGaming Ontario board.

Economic Contributions and Growth

Ontario’s iGaming market contributed $2.7 billion to Ontario’s GDP in its second year of operation, up from $1.58 billion in the first year. For every dollar spent by iGaming operations, an estimated $1.40 of GDP was supported in the Ontario economy, an increase from $1.14 in the first year.

The iGaming market has already achieved or nearly reached many of Deloitte’s year-five projections in its second year, with government revenue at 94%, direct jobs sustained at 120%, total full-time jobs sustained at 9%, and GDP contributions at 93% of the initial expectations.

“Through the development and growth of Ontario’s regulated iGaming market, we’re helping achieve the government’s goals in terms of job creation, innovation, and development while providing a safer experience for consumers,” added Martha Otton, executive director of iGaming Ontario.

Detailed Economic Impact

The report from Deloitte indicates that Ontario’s regulated iGaming market sustained 14,935 full-time equivalent jobs in its second year, a significant increase from the previous year. The market’s contribution to the GDP amounted to $2.7 billion, with a notable portion of $1.3 billion supporting labor income. This economic activity resulted from both operational activities and capital investments by licensed iGaming operators.

The breakdown of government revenue supported by the iGaming market is substantial: $790 million in provincial government revenue, $75 million in municipal government revenue, and $380 million in federal government revenue. These revenues include various taxes such as the Harmonized Sales Tax (HST), property taxes, and corporate and personal income taxes.

Comparing Year 1 and Year 2 Results

The growth from Year 1 to Year 2 of Ontario’s regulated iGaming market is significant. The estimated contribution to Ontario’s GDP grew by 70%, from $1.6 billion to $2.7 billion. The contribution to labor income increased by 45%, rising from $905 million to $1.3 billion. Employment contributions saw a 24% rise, growing from 12,070 full-time equivalent jobs to 14,935. Additionally, the contribution to provincial and municipal government revenue in Ontario increased by 66%, from $525 million to $865 million.

This robust growth illustrates the dynamic impact of Ontario’s regulated iGaming market on the province’s economy. The sector not only creates jobs but also drives significant revenue for the government, supporting a variety of public services and initiatives.

Source:

ONTARIO IGAMING MARKET SUSTAINING 15,000 JOBS IN SECOND YEAR SINCE LAUNCH, gamingintelligence.com, June 20, 2024.

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Bally’s Prepares to Implode Tropicana by the End of the Year https://kenowizard.com/2024/04/06/ballys-prepares-to-implode-tropicana-by-the-end-of-the-year/ https://kenowizard.com/2024/04/06/ballys-prepares-to-implode-tropicana-by-the-end-of-the-year/#respond Sat, 06 Apr 2024 07:29:50 +0000 https://kenowizard.com/2024/04/06/ballys-prepares-to-implode-tropicana-by-the-end-of-the-year/ As the demolition of the Tropicana casino hotel in Las Vegas draws near, Bally’s Corporation is trying to secure the necessary permits for imploding the property. Because of the procedure’s intricacies, the casino operator would need to secure dust control and asbestos abatement permits, among other permits. Traffic would also need to be taken into [...]

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As the demolition of the Tropicana casino hotel in Las Vegas draws near, Bally’s Corporation is trying to secure the necessary permits for imploding the property. Because of the procedure’s intricacies, the casino operator would need to secure dust control and asbestos abatement permits, among other permits. Traffic would also need to be taken into mind.

According to the latest reports, the Tropicana will be imploded by Controlled Demolition, the same company that previously imploded the Riviera and the Landmark.

According to Tropicana’s chairman, Soo Kim, the matter is still subject to permitting but Bally’s intends to bring the casino down by the end of the year. This would mark an end to a legendary property that has remained in business for over half a century.

Tropicana originally opened on April 4, 1957, and closed on April 2, 2024, just two days before its anniversary.

Bally’s, which acquired the Tropicana site three years ago, is planning to instead develop a $1.5 billion baseball stadium for the Oakland Athletics and an adjacent hotel.

Some Are Concerned about Bally’s Financial Position

The decision to close Tropicana came after a long period of suboptimal business activity.  Despite its iconic status, the last years saw the property lose much of its luster amid a lack of investment.

Yet, some locals fear that the demolition of Tropicana might be a risky gambit, especially considering Bally’s Corporation’s recent financial hurdles. For reference, the casino company is still struggling to find financing for its downtown Chicago project.

To make matters worse, the company’s credit rating was recently lowered by several credit ratings firms, including Fitch and Moody’s.

Despite that, the company recently told The Progress-Index that it remains bullish on participating in the bidding process for a casino in Petersburg, saying that the lowered rating is unlikely to affect its bid.  

In other news, K&F Growth Capital, an asset management firm and minority shareholder in Bally’s, recently expressed its concerns about Standard General’s recent proposal to acquire all outstanding shares in the casino company.

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Lucky Player Hits Second Dream Drop Jackpot for the Year https://kenowizard.com/2024/03/22/lucky-player-hits-second-dream-drop-jackpot-for-the-year/ https://kenowizard.com/2024/03/22/lucky-player-hits-second-dream-drop-jackpot-for-the-year/#respond Fri, 22 Mar 2024 20:52:18 +0000 https://kenowizard.com/2024/03/22/lucky-player-hits-second-dream-drop-jackpot-for-the-year/ The leading supplier of unique casino games and iGaming aggregator, Relax Gaming, announced that it made another lucky only player millionaire thanks to a Dream Drop Jackpot win. The company confirmed Friday that a player at Unibet casino secured the latest Dream Drop Jackpot, pocketing a whopping €2.7 million ($2.9 million) prize. The latest mouth-watering [...]

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The leading supplier of unique casino games and iGaming aggregator, Relax Gaming, announced that it made another lucky only player millionaire thanks to a Dream Drop Jackpot win. The company confirmed Friday that a player at Unibet casino secured the latest Dream Drop Jackpot, pocketing a whopping €2.7 million ($2.9 million) prize.

The latest mouth-watering prize represents the second grand prize from Dream Drop Jackpot for the year so far and fourteenth overall. The monumental win comes after back in January, a lucky player hit the thirteenth Mega Jackpot drop and the first for 2024.

To secure the grand prize, the customer played Print Studios’ Pine of Plinko Dream Drop via Unibet. Ultimately, the lucky online gambler was able to hit the grand prize after placing a tiny €3.50 bet. Besides Dream Drop, Pine of Plinko Dream Drop offers other engaging features, including multipliers, feature bet and Pinko Bonus, among other functions.

David Robertson, the director of casino and gaming at Kindred, Unibet’s parent company, was excited about the latest win. “The Dream Drop Jackpot has quickly become known for allowing players to win incredible jackpots, adding a layer of excitement to the gameplay experience, we are delighted to see the latest winner play at our casino,” he said. Finally, Robertson congratulated the lucky player.

Relax Gaming Enjoys a Wonderful Start of the Year

Filip Wargeus, Print Studios’ CCO, was also excited about the recent jackpot win. He said that the company strives to offer engaging and rewarding experiences to its players. This is why, Wargeus said, Print Studios decided to add the popular Dream Drop Jackpot feature into Pine of Plinko. In conclusion, he pointed out: “We have seen great levels of engagement with the game and we are thrilled to have seen a millionaire made playing one of our titles.”

Back in 2023, Relax Gaming was recognized with the Product Launch of the Year award by the GGA for its Dream Drop Jackpots. As a leading supplier of online casino games, the company offers more than 4,000 quality titles. Forging partnerships with iGaming operators and aggregators, Relax Gaming successfully grows the reach of its games.

To have created two millionaires so early in 2024 is a wonderful start to the year for our portfolio of Dream Drop titles.

Simon Hammon, CEO at Relax Gaming

Simon Hammon, Relax Gaming’s CEO, revealed that it is exciting to see two millionaires early in the year, who have secured huge Dream Drop Jackpots. While he said that last year will be remembered considering the number of jackpots won, Hammon also predicted that the company may surpass previous records this year.

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Boyd Gaming Posts Stellar Q4 and Full Year 2023 Results https://kenowizard.com/2024/02/10/boyd-gaming-posts-stellar-q4-and-full-year-2023-results/ https://kenowizard.com/2024/02/10/boyd-gaming-posts-stellar-q4-and-full-year-2023-results/#respond Sat, 10 Feb 2024 06:02:13 +0000 https://kenowizard.com/2024/02/10/boyd-gaming-posts-stellar-q4-and-full-year-2023-results/ Boyd Gaming, the leading online and land-based gambling operator with a strong US presence, released its financial results for the fourth quarter and full year ended December 31, 2023, pointing to strong growth in revenue. The latest unaudited report emerged Thursday and saw the company report $954.4 million in total revenues for Q4 2023. Compared [...]

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Boyd Gaming, the leading online and land-based gambling operator with a strong US presence, released its financial results for the fourth quarter and full year ended December 31, 2023, pointing to strong growth in revenue. The latest unaudited report emerged Thursday and saw the company report $954.4 million in total revenues for Q4 2023. Compared to the $922.9 million result for the corresponding period in 2022, the latest result shows an increase of more than 3%.

The latest trading update reveals that Boyd Gaming posted $92.6 million in net income for the fourth quarter, representing $0.94 per share, a slight dip when compared to the Q4 2022 result of $172.7 million in net income or $1.63 per share. The total adjusted EBITDAR reported by the company for the fourth quarter of 2023 was $355.5 million, while adjusted earnings were $163.8 million.

A breakdown provided by Boyd Gaming revealed that its gaming and online segments were responsible for the lion’s share of the revenue in the fourth quarter. The total gaming revenue reported by the company in Q4 2023 hit $647.1 million, a result that was slightly below the $653.9 million figure from Q4 2022.

Yet, Boyd Gaming’s revenue from the online segment hit $124.1 million, up by $34 million when compared to the $89.7 million in online revenue reported for the corresponding period the prior year. The company explained that its online segment was positively impacted by the introduction of sports betting in Ohio dating back to January 2023.

In Q4 2023, Boyd Gaming posted food and beverage as well as room revenue of $75.5 million and $50.6 million respectively. Those results were on par with the Q2 2022 figures. Management fees and other revenues for the period were some $56 million.

Online Segment Boosts 2023 Total Revenue

When it comes to the 2023 results, Boyd Gaming also posted strong growth. According to the new report, the company’s total revenue hit $3.74 billion for 2023, a significant increase when compared to the $3.56 billion result for the prior year.

Not unexpectedly, gaming was responsible for the lion’s share of the revenue, a total of $2.61 billion, a result that was only slightly below the 2022 figure. However, the company’s online revenue for 2023 hit $422.2 million, completely surpassing the $254 million result from 2022.

The fourth quarter’s strong performance was a fitting conclusion to another record year for our Company.

Keith Smith, president and CEO of Boyd Gaming

Keith Smith, Boyd Gaming’s president and CEO, highlighted the strong performance of the company during the fourth quarter of 2023. He explained that the outstanding results are a testament to the diversification of the company’s portfolio in combination with strong investments and returns. “Our management teams continued to demonstrate their ability to efficiently manage the business, achieving property-level operating margins above 40% for both the fourth quarter and full year,” added Smith. Finally, he predicted further growth for Boyd Gaming on a global scale, efforts that are also expected to create long-term shareholder value.

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SOFTSWISS Secures Platform Provider of the Year Award https://kenowizard.com/2024/02/09/softswiss-secures-platform-provider-of-the-year-award/ https://kenowizard.com/2024/02/09/softswiss-secures-platform-provider-of-the-year-award/#respond Fri, 09 Feb 2024 02:28:17 +0000 https://kenowizard.com/2024/02/09/softswiss-secures-platform-provider-of-the-year-award/ iGaming tech specialist SOFTSWISS has been named Platform Provider of the Year at the Global Gaming Awards EMEA. This acknowledgment, coming in the wake of a fruitful week at ICE London, solidifies the company as an industry leader in the region. Firmly focused on the EMEA region, SOFTSWISS secured the prestigious accolade after more than [...]

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iGaming tech specialist SOFTSWISS has been named Platform Provider of the Year at the Global Gaming Awards EMEA. This acknowledgment, coming in the wake of a fruitful week at ICE London, solidifies the company as an industry leader in the region.

Firmly focused on the EMEA region, SOFTSWISS secured the prestigious accolade after more than 50 industry-leading executives voted to choose the best companies in the contemporary gaming sector. The Global Gaming Awards decorate the gaming industry’s top performance over the past year, highlighting their commitment to innovation and high standards.

The Platform Provider of the Year award celebrates SOFTSWISS’s constantly evolving platform and the company’s commitment to meeting and exceeding its operator clients’ expectations. The company triumphed over many worthy competitors, further attesting to its excellence.

SOFTSWISS is no stranger to such successes. During the 2013 edition of ICE London, the company debuted its flagship Casino Platform. Years later, the Casino Platform unites 6 million players from different markets. It is universally acclaimed as a trustworthy and efficient product and is still being updated to this day.

SOFTSWISS also kicked off 2024 with a bang, unveiling a series of product updates. The aforementioned Casino Platform, for example, was just enhanced with the Tournament Service, an enhanced version of the prior Tournaments solution. In addition, the platform enhanced its Event Streaming with AI solutions. The Bonus API was also upgraded.

The technology provider’s latest updates further highlight the reason why it was designated as the Platform Provider of the Year.

SOFTSWISS Is Glad Its Hard Work Is Paying Off

Max Trafimovich, SOFTSWISS’ chief commercial officer, commented on the most recent accolade, saying that he feels delighted to see his team’s efforts recognized by other industry leaders.

It is truly gratifying to witness the collective efforts of our talented team reshaping the iGaming business, fostering an environment that is more appealing, transparent and responsible.

Max Trafimovich, CCO, SOFTSWISS

SOFTSWISS has some 15 years of experience in iGaming and sports an experienced team that truly understands the iGaming sector. This knowledge allows the company to drive further innovation, command industry respect and have the trust of many industry leaders and clients.

A recent survey, SOFTSWISS pointed out, shows that a whopping 80% of its clients are satisfied with its products and services. Thanks to that, the company received more than 15 awards in 2023 alone.

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FanDuel Celebrates a Year of Mobile Betting in Ohio, Donates $1M to UNCF https://kenowizard.com/2024/01/23/fanduel-celebrates-a-year-of-mobile-betting-in-ohio-donates-1m-to-uncf/ https://kenowizard.com/2024/01/23/fanduel-celebrates-a-year-of-mobile-betting-in-ohio-donates-1m-to-uncf/#respond Tue, 23 Jan 2024 04:06:45 +0000 https://kenowizard.com/2024/01/23/fanduel-celebrates-a-year-of-mobile-betting-in-ohio-donates-1m-to-uncf/ FanDuel, a North American online gambling powerhouse, unveiled a $1 million donation supporting the United Negro College Fund (UNCF). The money, according to the announcement, will help the latter organization build a robust and nationally recognized pipeline for under-represented students. UNCF is the nation’s largest and most effective minority education organization and helps young people [...]

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FanDuel, a North American online gambling powerhouse, unveiled a $1 million donation supporting the United Negro College Fund (UNCF). The money, according to the announcement, will help the latter organization build a robust and nationally recognized pipeline for under-represented students.

UNCF is the nation’s largest and most effective minority education organization and helps young people from under-represented communities become highly qualified college graduates. The organization will use FanDuel’s money to provide financial support to students at 10 Historically Black Colleges and Universities (HBCUs) across Ohio.

This is notably FanDuel’s third donation to the UNCF in three years. Previously, the gambling company provided similar donations to support UNCF’s initiatives in Virginia and Maryland.

The donation will see the organization provide direct aid to help students in a variety of areas. This will notably include technology, housing, food security, tuition and other education-related expenses, the announcement says. In addition, FanDuel will work with the philanthropic organization to recruit students from the schools to join its internship program.

According to the announcement, FanDuel’s decision to support UNCF’s efforts in Ohio celebrates the one-year anniversary of the launch of mobile sports betting in The Buckeye State.

For reference, the 10 colleges that will benefit from the donations include the following:

  • Case Western University
  • Central State University
  • Chamberlain University
  • Franklin University
  • Herzing University-Akron
  • Ohio State University-Newark Campus
  • Union Institute & University
  • Ursuline College
  • Wilberforce University
  • University of Cincinnati-Blue Ash College

UNCF Thanked FanDuel for Its Support

Maurice E. Jenkins, UNCF’s executive vice president and chief fundraising officer, praised FanDuel’s ongoing support, saying that his team truly appreciates the gambling company’s backing. He added that financial and academic support like this is what makes a real difference for HBCUs and their students.

We look forward to continuing our partnership; students benefit so much from internship opportunities.

Maurice E. Jenkins, EVP & CFO, UNCF

FanDuel’s president, Christian Genetski, also commented on the matter, saying that his team continues to strive to make a positive impact in the communities in which the company operates.

As we reflect on our first year of operation in Ohio, we’re proud to continue our partnership with UNCF to support the HBCU community in the state and look forward to supporting hard-working students at institutions across Ohio.

Christian Genetski, president, FanDuel

In other news, FanDuel recently launched a new campaign featuring the NFL star Rob Gronkowski.

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Caesars May Divest Two Properties This Year, Suggests Analyst https://kenowizard.com/2024/01/10/caesars-may-divest-two-properties-this-year-suggests-analyst/ https://kenowizard.com/2024/01/10/caesars-may-divest-two-properties-this-year-suggests-analyst/#respond Wed, 10 Jan 2024 14:07:10 +0000 https://kenowizard.com/2024/01/10/caesars-may-divest-two-properties-this-year-suggests-analyst/ Divestment of assets isn’t uncommon for gambling operators across the globe. If a certain digital asset is a burden or a specific property is underperforming, operators often explore a wide range of options, including potential sales or mergers. Currently, the leading gaming and entertainment company, Caesars Entertainment, has four casinos across Indiana. The list of [...]

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Divestment of assets isn’t uncommon for gambling operators across the globe. If a certain digital asset is a burden or a specific property is underperforming, operators often explore a wide range of options, including potential sales or mergers.

Currently, the leading gaming and entertainment company, Caesars Entertainment, has four casinos across Indiana. The list of properties includes Caesars Southern Indiana Hotel and Casino, Horseshoe Hammond, Harrah’s Hoosier Park Racing and Casino and Horseshoe Indianapolis.

An ongoing focus for Caesars is to reduce its financial liabilities. The potential sale of two of its Indiana properties is one way this can be achieved, an analyst suggests. Shaun Kelley, a senior research analyst for Bank of America, recently revealed that Caesars may consider divesting two of its casinos.

The venues that may be sold are Horseshoe Indianapolis and Harrah’s Hoosier Park. The divestment of the two properties is expected to raise close to $2 billion in net proceeds for Caesars, Kelley estimates. Additionally, the analyst explained that the finalization of the company’s projects in Danville and New Orleans may further boost its growth.

We expect this sale to raise nearly $2 billion in net proceeds that should reduce traditional and lease-adjusted leverage below five times and close to their targeted range.

Shaun Kelley, senior research analyst for Bank of America

Possible Buyer Is VICI Properties

The sale of two of Caesars’ casinos in Indiana may be completed by divestment of Centaur Holdings, the holding company of the two properties. The potential buyer, according to the analyst, could be VICI Properties, the owner and acquirer of real estate assets within the hospitality, gaming, leisure and entertainment sectors.

Despite Kelley’s prediction, Caesars is yet to confirm or reject the possible divestment of assets in Indiana. With the start of the year, the leading gaming and entertainment company confirmed the date when it will be releasing its financial results for the fourth quarter and full year 2023. At the time, Caesars said that its results would be released upon market close on Tuesday, February 20, 2023.

On the same day, the company will also host a conference, discussing its latest results as well as other important matters. If Caesars considers the aforementioned divestment, it may be one of the topics up for discussion on that day.

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The Philippines Hopes to Exit the FATF Grey List by the End of the Year https://kenowizard.com/2024/01/05/the-philippines-hopes-to-exit-the-fatf-grey-list-by-the-end-of-the-year/ https://kenowizard.com/2024/01/05/the-philippines-hopes-to-exit-the-fatf-grey-list-by-the-end-of-the-year/#respond Fri, 05 Jan 2024 21:47:58 +0000 https://kenowizard.com/2024/01/05/the-philippines-hopes-to-exit-the-fatf-grey-list-by-the-end-of-the-year/ The Philippines is bullish on exiting the FATF grey list this year. To that end, the country’s president, Ferdinand R. Marcos Jr has asked all government agencies to fix the regulatory shortcomings identified by the Financial Action Task Force. According to reports, Marcos’ directive was communicated to agencies during a recent meeting. During that meeting, [...]

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The Philippines is bullish on exiting the FATF grey list this year. To that end, the country’s president, Ferdinand R. Marcos Jr has asked all government agencies to fix the regulatory shortcomings identified by the Financial Action Task Force.

According to reports, Marcos’ directive was communicated to agencies during a recent meeting. During that meeting, the President highlighted the economic importance of exiting the grey list. For reference, the Philippines originally had to convince the FATF that it should be removed from the grey list by January 2023. However, this period was extended by 12 months, providing the country with more time to address its shortcomings.

Matthew David, the executive director of the Anti-Money Laundering Council (AMLC) Secretariat, commented on the matter, saying that the President has “reiterated the government’s commitment” to addressing the deficiencies identified by the FATF.

David confirmed that the country hopes to address all of the points made by the task force in 2024 and trigger the country’s exit from the grey list by the end of the year. According to him, 10 of the 18 deficiencies identified by the FATF have already been addressed. The remaining eight are currently being addressed or not yet addressed.

David admitted that the Philippines still needs to properly tackle terrorism financing.

The Philippines Is Optimistic about Its Exit

While there is a lot more work to do, David said that the Philippine government believes that it is on the right track. According to him, the President is very content with the work of the AMLC.

In his interview with the Philippine News Agency, David said:

Our goal is to eventually exit the grey list. There are repercussions for being in the grey list because the longer we are in the grey list, the bigger the possibility or the higher risk that we will enter the black list.

Matthew David, exec director, AMLC Secretariat

In October, the Philippine government published Memorandum Circular No. 37, ordering 44 government agencies to work on addressing the 18 deficiencies outlined in the FATF’s report. A number of authorities, including the PAGCOR, were thus required to step up their AML efforts.

In line with its efforts to strengthen its regulations, the Philippines also joined forces with China to crack down on illegal offshore operators in the country. This followed a joint action between the two countries that resulted in the repatriation of 400 Chinese nationals.

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2023 Successes – BGaming’s Year Of Unprecedented Growth https://kenowizard.com/2023/12/22/2023-successes-bgamings-year-of-unprecedented-growth/ https://kenowizard.com/2023/12/22/2023-successes-bgamings-year-of-unprecedented-growth/#respond Fri, 22 Dec 2023 16:11:22 +0000 https://kenowizard.com/2023/12/22/2023-successes-bgamings-year-of-unprecedented-growth/ BGaming, the renowned iGaming content provider, has left an indelible mark on 2023, surpassing all expectations with a year characterized by exponential growth and groundbreaking innovations. As the curtains draw on this remarkable chapter, let’s delve into the key highlights that defined the compay’s stellar journey. Global Gaming Revenue Soars BGaming’s financial prowess has taken [...]

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BGaming, the renowned iGaming content provider, has left an indelible mark on 2023, surpassing all expectations with a year characterized by exponential growth and groundbreaking innovations.

As the curtains draw on this remarkable chapter, let’s delve into the key highlights that defined the compay’s stellar journey.

Global Gaming Revenue Soars

bgaming-celebrates-impressive-2023-fuelled-by-streaming-and-customisation-successBGaming’s financial prowess has taken center stage, witnessing a staggering 95% surge in Global Gaming Revenue (GGR). This meteoric rise underscores the provider’s vision to launch top-tier gaming experiences that resonate with players across the globe.

The numbers speak volumes – a remarkable 102% increase in wagers placed and partnerships with over 400 new casinos. BGaming’s influence has rippled through the iGaming landscape, solidifying its position as a provider of choice for both operators and players alike.

Behind every success story is a dedicated team, and BGaming is no exception. With its team growing from 120 to 200 employees, the company has harnessed the power of collective expertise to drive innovation and achieve unprecedented milestones.

Customization Mastery

BGaming’s prowess in customization has been a game-changer. Over 100 games, including exclusive releases like Doddy and Hadzy for Stake.com, and Betsson Plinko for Betsson, showcase the studio’s ability to tailor experiences that captivate audiences and elevate partner operators.

The year witnessed the launch of 36 new adventures, each contributing to BGaming’s diverse portfolio. Games like Bone Bonanza, Beast Band, Merge Up, Gemhalla, Dice Bonanza, Mice, and Magic Wonder Spin, and Sweet Rush Megaways™ showcased innovation and creativity at its finest.

The company’s foray into artificial intelligence was marked by the development of hits like Alien Fruits and Wild Chicago. With AI contributing to 90% of these creations, the studio demonstrated its prowess in leveraging cutting-edge technology for unparalleled gaming experiences.

Its global footprint expanded into new markets, including Greece, Romania, Brazil, Colombia, Peru, Chile, Mexico, and Spain . Strategic partnerships with industry giants like Casimba Games, Playtech, Salsa Technology, and Betvictor have been announced, and we believe that many more similar ones will land in 2024.

Looking back on this year, Maria Ostrovtsova, CEO at BGaming, said: “BGaming has continued to outdo itself and grown massively throughout 2023. We faced new challenges and celebrated many unforgettable milestones. BGaming’s achievement in the realm of streaming is something that stands out for us. We reached more than 16 million players each month and were awarded seventh place in Casinolytics’ stats. More than 75% of all streamers worldwide have streamed our content, making us third in LatAm in terms of reach.“

Kate Puteiko, CMO at BGaming, added: “This year, BGaming has been focusing on standing out in the saturated market, with so many talent studios producing engaging content. As a result, we have delivered numerous outstanding projects that have taken our studio to a new level, including our artistic collaborations at ICE London, SBC Barcelona, and SiGMA Malta, something we will continue into next year.”

Source:

”BGaming celebrates impressive 2023 fuelled by streaming and customisation success”European Gaming. December 21, 2023.

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